Calgary Real Estate Statistics - February 2024

January sales rose to 1,650 units, a significant gain over last year's levels and long-term trends. The growth was possible thanks to a rise in new listings totalling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000.

With 2,150 units in inventory, levels are near the January record lows set in 2006 and are nearly 49% below the long-term average for the month.

"Supply challenges have been a persistent problem since last year. This month's gain in new listings has helped provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth," stated Ann-Marie Lurie, Chief Economist at CREB®.

The months of supply in January was 1.3 months, falling over last month's and last year's levels. The persistent tightness in the market contributed to further upward pressure on home prices. The unadjusted benchmark price in January reached $572,300, a gain over last month and 10% higher than levels reported last January.

- Detached sales increased by 31% compared to a year ago

- New listings increased by 9% compared to a year ago

- Inventory decreased by -13% compared to a year ago

- Benchmark Price increased by 13% to $702,200 compared to a year ago

- Semi-Detached sales increased by 18% compared to a year ago

- New listings increased by 49% compared to a year ago

- Inventory decreased by -3% compared to a year ago

- Benchmark Price increased by 11% to $625,000 compared to a year ago

- Townhouse sales increased by 42% compared to a year ago

- New listings increased by 16% compared to a year ago

- Inventory decreased by -18% compared to a year ago

- Benchmark Price increased by 20% to $426,400 compared to a year ago

- Apartment unit sales increased by 54% compared to a year ago

- New listings increased by 17% compared to a year ago

- Inventory decreased by -12% compared to a year ago

- Benchmark Price increased by 19% to $324,000 compared to a year ago